Facebook's Zuckerberg offers IPO advice toTwitter

Sep. 11, 2013
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by Scott Martin, USA TODAY

by Scott Martin, USA TODAY

SAN FRANCISCO -- Facebook CEO Mark Zuckerberg on Wednesday was asked to give his advice to Twitter about its rumored IPO plans.

"I'm kind of like the person you would want to ask least about how to make a smooth IPO," he said. "As long as they (Twitter) kind of focus on what they are doing, then i think it's wonderful."

Zuckerberg's comments came at the TechCrunch Disrupt technology conference here.

The social-networking giant's chief said it was it was an extremely "turbulent" first year as a public company. What worried him following the company's flop on the markets? "I was really worried that people would leave the company," he said.

After shares fell below its $38 offering price, the company saw a number of high-profile departures. His concerns ran that people would become demoralized with the stock price down. Instead employees "really focused on the mission," he said.

In the wake of its IPO, Facebook's membership has swelled to 1.15 million users and it has 699 million daily active users.

The Silicon Valley company went from seeing no revenue on mobile last year to more than 40% of its revenue now.

"We took a lot of s--- because we weren't making money on mobile," Zuckerberg said.

Wall Street has since taken a more positive outlook on Facebook. Likewise, investors have piled onto shares, driving it to a new record high. Shares of Facebook on Wednesday rose 3.3% to $45.04.

"Sometimes it might take the market a little while to catch up and see the results of what you are doing," he said.